Bank of England Act 1998 (c. 11)

Part I U.K. Constitution, regulation and financial arrangements

Constitution and regulation U.K.

F1 [3E Recommendations resulting from review U.K.

(1) This section applies where a report made by a person appointed under section 3C to conduct a review makes recommendations to the Bank as to steps to be taken by it.

(2) The [F2 court of directors ] must—

(a) monitor the Bank's response to the report, and

(b) if or to the extent that the Bank accepts the recommendations, monitor the implementation of the recommendations.]

Textual Amendments

F1 Ss. 3A-3F substituted for s. 3 (1.4.2013) by Financial Services Act 2012 (c. 21) , ss. 3(2) , 122(3) (with Sch. 20 ); S.I. 2013/423 , art. 3 ,

F2 Words in s. 3E(2) substituted (6.7.2016) by Bank of England and Financial Services Act 2016 (c. 14) , s. 41(3) , Sch. 2 para. 7 (with Sch. 3 ); S.I. 2016/627 , reg. 2(2)(b)